Adrian JohnsonTLDR:
- Supermicro assured customers that recent events will not affect their ability to deliver IT solutions
- The company expects no material changes in Q4 or FY24 financial results
Supermicro recently announced that they will be delayed in filing their Annual Report for the fiscal year ended June 30, 2024, and addressed concerns raised by a short seller in a letter to customers and partners. Despite these events, the company reassured customers that their production capabilities are unaffected, and they can still deliver innovative IT solutions. Supermicro reported that they have shipped approximately 2,000 liquid-cooled AI racks to customers, positioning themselves strongly in the market.
The Audit Committee of the Board of Directors decided to delay the filing of the Annual Report to conduct a thorough review of internal controls, but the company anticipates no material changes in their Q4 or FY24 financial results. Supermicro highlighted their strong financial performance, doubling revenues year-over-year in FY24 and efficiently growing their staff. The company is focused on delivering on customer commitments and product roadmaps while continuing to grow and meet evolving needs.
Supermicro also addressed false or inaccurate statements made by a short-seller hedge fund about the company and reassured customers that their experience will not change. Looking ahead to 2025, Supermicro expressed confidence in their winning products, strong backlog of design wins, and leading market positions. The company emphasized their commitment to customer trust and partnership, encouraging customers to reach out with any questions or concerns.
In conclusion, Supermicro remains focused on delivering top-notch IT solutions to customers, maintaining their strong financial performance, and upholding customer trust and partnership.
